Michigan Compiled Laws
Act 387 of 2012 - Regional Transit Authority Act (124.541 - 124.558)
Section 124.552 - Financial Obligation of Authority.

Sec. 12.
(1) The revenue raised by an authority may be pledged, in whole or in part, for the repayment of bonded indebtedness and other expenditures issued or incurred by the authority.
(2) A financial obligation of an authority is a financial obligation of the authority only and not an obligation of this state or any city or county within a public transit region. A financial obligation of an authority shall not be transferred to this state or any city or county within a public transit region.
History: 2012, Act 387, Imd. Eff. Dec. 19, 2012

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Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 124 - Municipalities

Act 387 of 2012 - Regional Transit Authority Act (124.541 - 124.558)

Section 124.541 - Short Title.

Section 124.541a - Legislative Intent.

Section 124.542 - Definitions.

Section 124.543 - Authority; Creation; Date Effective; Authority as Municipal Public Body Corporate and Metropolitan Authority; Rights, Functions, and Responsibilities; Inclusion of Phrase "Regional Transit authority."

Section 124.544 - Petition by County to Be Included in Public Transit Region and Authority; Conditions; Provisional Member.

Section 124.545 - Board; Appointment; Terms; Vacancy; Qualifications; Oath; Compensation; Travel and Expenses; Individual Not of Good Moral Character or Convicted of Felony; Discharge of Duties; Contract, Bonds, Notes, or Other Obligations; Appointme...